Exports remain one of the main drivers

According to statistics released by the General Department of Customs on February 12, Vietnam's goods export activities slowed down in the first month of the new year, which is a month with many Lunar New Year holidays.

Focus on export growth. Photo: Illustration

Specifically, the export value reached 33.19 billion USD, down 6.6% (equivalent to a decrease of 2.34 billion USD). On the contrary, the import of goods in January reached 30.06 billion USD, down 14.1% (equivalent to a decrease of 4.94 billion USD). The trade balance of goods in January 2025 had a surplus of 3.13 billion USD.

At the 9th Extraordinary Session, the Government submitted to the National Assembly a supplementary project on socio-economic development in 2025 with a growth target of 8% or more (higher than the Central target, the National Assembly has decided to be 6.5 - 7%, striving for 7 - 7.5%). Associate Professor, Dr. Nguyen Huu Huan - Ho Chi Minh City University of Economics - informed that currently, domestic consumption motivation is still weak due to the mentality of tightening the belt, businesses and people have not really spent much.

Therefore, this year, we should focus on strengthening fiscal policy and boosting public investment. In addition, exports will still be one of the main driving forces. These two pillars will play an important role in stimulating the economy, creating a breakthrough in this pivotal year.

Great determination and great challenges

According to economic experts, the Government's tasks and solutions to promote economic growth include: Perfecting institutions and laws; unblocking and effectively using public investment resources; promoting private investment and processing and manufacturing industries; promoting social consumption; promoting exports as well as new growth drivers such as digital economy, green economy, etc. have been mentioned for many years.

However, this time, the Government has been very detailed and specific about the tasks and solutions for each group of problems, quantified with very specific numbers such as: Striving for the disbursement rate in 2025 to reach 95% of the plan assigned by the Prime Minister; striving to save about 10% more regular expenditures to increase the 2025 budget compared to the 2024 budget to supplement investment for the Lao Cai - Hanoi - Hai Phong railway line... Total import-export turnover in 2025 to increase by 12% or more; trade surplus of about 30 billion USD. This will be the "compass" for ministries, branches and localities to implement.

Speaking to reporters of the Industry and Trade Newspaper , Associate Professor Dr. Dinh Trong Thinh - an economic expert - said that achieving the target of import-export growth of 12% or more this year is not simple. Because in the context of the world situation still evolving unpredictably, just a change in US policy will have a significant impact on Vietnam because this is a market that accounts for nearly 30% of our country's goods exports in the past year.

Therefore, finding markets in 17 Free Trade Agreements (FTAs) and other markets is extremely urgent, and must be identified as one of the top priorities. The Ministry of Industry and Trade, embassies and relevant agencies must actively implement this right from the first quarter, because when exports increase, production will increase.

According to Associate Professor, Dr. Dinh Trong Thinh, strongly promoting new growth drivers and developing new, advanced production forces is very important. Accordingly, it is necessary to quickly digitize state management, digitize the economy and digitize society; create connectivity between ministries, branches and localities so that people and businesses can easily access procedures, which is also creating better publicity and transparency for the economy.

Greening production, consumption and waste recycling are inevitable global trends. Greening will also be a lever for us to boost exports. Digitalization and greening will change the growth pillars of the economy. Therefore, it is imperative to accelerate and substantially implement these greening and digitalization activities.

Export is one of the three traditional driving forces of our country's economy. To maintain the export market in the face of US tax policies and the risk of trade war, and at the same time achieve the target of increasing GDP by 8-10%, the growth of goods exports must reach 12% or more. To achieve the above target requires high determination, great efforts, drastic and effective actions of all levels, sectors, localities, industry associations and enterprises.

On the side of the Ministry of Industry and Trade , Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department - said that the Ministry will focus on effectively implementing solutions to promote competitive advantages and take advantage of export market opportunities.

Accordingly, expand export markets by promoting and supporting businesses and industry associations to effectively exploit traditional markets with great potential. At the same time, proactively research, consult on negotiations, and sign cooperation agreements with new markets; focus on exploiting and making the most of opportunities from key and strategic markets.

In addition, take advantage of opportunities from FTAs of which Vietnam is a member. Continue to innovate and improve the effectiveness of activities to support businesses and industry associations to fully implement commitments in signed free trade agreements and ways to take advantage of tariff incentives, meeting regulations on goods origin.

At the same time, proactively grasp the situation and advise on timely policy responses by continuing to promote and enhance the role of Vietnamese trade offices abroad in grasping information, promptly reflecting fluctuations in the world economy and new policies of host countries, helping State agencies have timely and effective policy responses.

In addition, promote trade promotion with focus and key points. Diversify forms of trade promotion, link trade promotion activities with production and export development of domestic enterprises and with e-commerce development and digital transformation. Actively support enterprises to participate in international trade.

Strengthen early warning of risks and accompany businesses when trade defense lawsuits arise. Support businesses to overcome new trade barriers in import markets. Enhance the capacity of small and medium enterprises in branding, marketing, and international trade promotion skills.